Arbitration Proceedings commenced by Aspen Vision Builders Sdn Bhd ("Aspen") against Proventus Bina Sdn Bhd ("Proventus")
| CENTRAL GLOBAL BERHAD |
| Type | Reply to Query | ||||||||||||||||||||||||
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-03122025-00001 | ||||||||||||||||||||||||
| Subject | Arbitration Proceedings commenced by Aspen Vision Builders Sdn Bhd ("Aspen") against Proventus Bina Sdn Bhd ("Proventus") | ||||||||||||||||||||||||
| Description | Arbitration Proceedings commenced by Aspen Vision Builders Sdn. Bhd. ("Aspen") against Proventus Bina Sdn. Bhd. ("Proventus")-Reply to Query |
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| Query Letter Contents | We refer to CGB’s announcement dated 1 December 2025 in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
1. details of the default or circumstances leading to the filing of the Notice of Arbitration;
2. confirmation as to whether Proventus is a major subsidiary of the Company; and
3. the total cost of investment in Proventus.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully
Listing Group Regulation
c.c. : Market Surveillance Dept., Securities Commission Malaysia (via email) |
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Further to our announcement dated 1 December 2025 in respect of the aforesaid matter and Bursa Malaysia Securities Berhad's letter dated 3 December 2025, the Board of the Company wishes to disclose the additional information as follows:-
1. Details of the default or circumstances leading to the filing of the Notice of Arbitration
As the arbitration is commenced by Aspen, the Company is not in a position to state the default, details or circumstances leading to the filing of the Notice of Arbitration by Aspen against Proventus.
2. Confirmation as to whether Proventus is a major subsidiary of the Company
Proventus is an indirect subsidiary to the Company and it is not a major subsidiary.
Both the profit before tax and total assets of Proventus are lower than 70% of the Group’s consolidated profit before tax and total assets.
3. The total cost of investment in Proventus.
Proventus is a wholly-owned subsidiary of CIC Construction Sdn. Bhd. (“CICC”), which in turn a wholly-owned subsidiary of the Company.
The cost of investment of CICC in Proventus as at 30 September 2025 is RM13,931,947.00 with the full amount being impaired at the book of CICC.
This announcement is dated 4 December 2025.
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Announcement Info
| Company Name | CENTRAL GLOBAL BERHAD |
| Stock Name | CGB |
| Date Announced | 04 Dec 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-04122025-00035 |